Barclays(US:BCS) Sou Hu Cai Jing·2025-11-15 05:31Core Insights - Barclays strategists anticipate that the Federal Reserve will begin purchasing Treasury securities in February 2024, following indications from key Fed officials about expanding the balance sheet [1] - The expected pace of purchases is projected to be $15 billion per month, starting from March 2024, with an announcement likely in the January meeting [1] - The purchases are aimed at maintaining reserve levels in line with economic growth, rather than indicating a shift in monetary policy stance [1] Summary by Categories Federal Reserve Actions - Federal Reserve is expected to start buying Treasury securities in February 2024 [1] - The anticipated purchase rate is $15 billion per month [1] Market Context - The Fed is currently in a risk management mode due to market concerns regarding repo rates [1] - Recent comments from New York Fed President John Williams and securities portfolio officials suggest a focus on aligning reserves with economic growth [1]